Company officials admitted to selling tobacco through a North Korean government-connected business between 2009 and 2017 and receiving payments in U.S. dollars.against North Korea because of that country’s nuclear weapons development program, including prohibiting American banks from processing transactions that originate in North Korea.
British American Tobacco said in a statement Tuesday that it ceased all business in North Korea in 2017. “We deeply regret the misconduct arising from historical business activities that led to these settlements,” the statement said. At the plea agreement and sentencing hearing Tuesday morning, U.S. District Judge Beryl A. Howell said that while British American Tobacco terminated its business with North Korea in 2017, before U.S. officials launched their investigation, the company failed to properly disclose the violations.Separately, a federal judge in D.C.
Singapore Singapore Latest News, Singapore Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: thedailybeast - 🏆 307. / 63 Read more »